TPCO - Tribune Publishing rallies 9% on updated guidance for Q4 FY 2020 and newly announced guidance for 2021

Tribune Publishing ([[TPCO]] +9.2%) has closed the sale of its majority stake in BestReviews to Nexstar Media Group ([[NXST]] +1.1%).Also updated its guidance for Q4 and FY 2020 and released revenue and AEBITDA guidance for 2021.In Q4 2020 it expects to generate $191M-$192M in revenue vs. $203.3M consensus and $28M-$29M in AEBITDA.FY2020 to generate $745M-$746M in revenue vs. $791.6M consensus and $72M-$73M in AEBITDA.And for FY 2021 the Company expects to generate $675M-$690M in revenue vs. 693.2M consensus and $105M-$113M in AEBITDA. "As we continue to execute our digital subscription, advertising and content strategies, we expect to generate substantial year-over-year increases in AEBITDA next year and create a clear path for long-term strong performance.” said Terry Jimenez, CEO of Tribune Publishing.

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Tribune Publishing rallies 9% on updated guidance for Q4, FY 2020 and newly announced guidance for 2021